Tax Advisory (including VAT)


All GCC countries were expected to implement Value Added Tax (VAT), as part of various new fiscal measures addressing the diversification of government revenue, starting from 01 January 2018. However, circumstances changed,and as Saudi Arabia and UAE has successfully implemented the program, the remining GCC states failed to implement VAT from 01 January 2018, but they continuously affirm their commitment and, hence, the expectations are such that VAT will be implemented within or shortly after 2018.

In the backdrop of this development, ABACUS has setup its tax advisory service to cater to the needs of individuals and businesses on Income Tax, Value Added Tax, and other miscellaneous taxes as they enacted.

We currently pay our attention more on the Value Added Tax (VAT) as its presence is expected to change entire business landscape, requiring significant changes to the way of doing business, record keeping, internal controls and governance, and external reporting, etc. We emphasize that advance preparation is imperative in order to deal with the challenges in a way that businesses will not incur unnecessary costs and penalties on non-compliances.

Accordingly, we provide the following services on VAT.

Towards VAT Readiness and Registration
– Conducting educational sessions for business owners and management
– Provide training for finance/ accounting staff
– Assisting in the development of or changing your systems
– Evaluating your options in registering your business
– Registering your business with the VAT authority (when implemented)

– Filling and filling of VAT returns
– Reconciling your invoices to the ledger, returns and the VAT authority records
– Representing your business in meetings with VAT authority
– Assisting in processing refunds.